iCharts Discussions

shashangan · Posted: Fri Dec 07, 2012 9:08 am Post subject:

Dec likely to open around 5980-75.

I think you can sell @ open between 5979-85 with stop @ 6012.

Min Target should be 5950. Possible targets 5934, 5916, 5898 & 5860.

It can be risky. Play mini. Do your analysis. I can be wrong.

Gautham Shashangan

shashangan · Posted: Fri Dec 07, 2012 9:33 am Post subject:

It's just my gut feeling there has to be a bear close.

I shall update the trend & exit once it gives a clear picture.

Thanks & Good luck
Gautham Shashangan

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

"there has to be a bear close"

meaning cover shorts?

shashangan · Posted: Fri Dec 07, 2012 10:13 am Post subject:

A close lower with a bear candle. Meaning for today as per open it has to close below 5979.

shashangan · Posted: Fri Dec 07, 2012 10:15 am Post subject:

You can partially Place an order to Buy Dec @ 5945-42

shashangan · Posted: Fri Dec 07, 2012 10:52 am Post subject:

Morning shorts can exit @ 5960-57 & replace it higher again later.

There may be one more try near the highs 5979+ & should not cross max 5990.

People who didnt short can short above 5979 with stop 6003

On the lower side target is 5945-40 could be after 12 pm I think.

Mkt will be in the range of 5985-5934 till 1300 hrs.

Gautham Shashangan

shashangan · Posted: Fri Dec 07, 2012 11:59 am Post subject:

Mkt Projection upto Feb March.

There is a possibility of a short term top for a deep correction again. I think Mkt may possibly head down again for December. Still early, But I shall confirm it soon. Just stay cautious with huge long positions.

Gautham Shashangan

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

Gautham, is it not possible that 6150 can happen in dec itself?

shashangan · Posted: Fri Dec 07, 2012 12:14 pm Post subject:

I am not sure yet. Just starting to feel mkt possibly may give a sudden fall. But it's still a feeling. Let me see how it behaves today (weekly close) & Monday. I may be wrong. Just keep small longs in case I am right you are not caught off guard.

Gautham Shashangan

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

only worry is if today closes below 5942NS or appx. 5984NF

shashangan · Posted: Fri Dec 07, 2012 12:26 pm Post subject:

Generally before a big reversal move, it does lot of natak, like yesterday it was supposed to close lower. Breaking low & high on same day is to confuse people.

From my past experience you need to keep a close watch what the big sharks are upto. So cautioning. Mkt is holding high possibly to trap people reading a strong weekly close near the highs. If there is a sharp fall post 2pm today, there is some indication. But I am having small confusions, so let me wait to confirm.

Dont blame me. I can be wrong. I am trying to read minds of big boys, I still need to understand & confirm the sentiment.

Gautham Shashangan

shashangan · Posted: Fri Dec 07, 2012 12:37 pm Post subject:

I have a strong feeling it will, but how much lower is what the mystery for now. But I again say It's my gut feeling I can be wrong.

Gautham Shashangan

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

true. for me post 1.30 pm is crucial. if it falls good before that, it may go up.

shashangan · Posted: Fri Dec 07, 2012 12:48 pm Post subject:

yes, I think they will possibly try breaking today's high after 1.30 to make people rush to cover shorts & reverse to long thinking it's going to be a strong weekly close & then the sharp fall would follow the trap, is the picture in my mind. I mention again, dont get carried away with my views, since my thinking is mostly different from others, so it's not necessary I should be right.

Gautham Shashangan

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

late fall is what I thought yesterday but it fooled us. Can't fight liquidity and that's why I am bullish ready to buy at lower levels.